While digital adoption has accelerated across various sectors, the coal industry has been at the forefront of technological innovations in the recent times. New projects like Kevin’s Corner coal mine, Adani Group Australia’s Carmichael mine, among others have integrated the advanced tech to enhance the operations.
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The Australian technology
The Australian technology industry has been growing fast on the back of recent advancements and changing market dynamics. It is one of the most important pillars of the Australian economy, contributing nearly $167 billion to it. In the last 5 years, the sector’s contribution has surged by 79 per cent, having outshined the average growth of most of the sectors by about four times.
Accelerated digital adoption in various sectors during Covid-19 has further tapped the technology sector by a long way. Especially, the coal industry has been at the forefront of technological innovations in the recent times. New projects like Kevin’s Corner coal mine, Olive Down’s coal mine, Adani Group Australia’s Carmichael mine, among others have integrated the advanced tech to enhance the operations.
Highest contributor
The technology sector is currently the third highest contributor to Australia’s GDP. While mining and banking sectors are ahead, healthcare construction and retail sectors are far behind the technology industry. It’s also closing on the finance and insurance sector. The sector’s direct contribution is equivalent to $76 billion, which includes segments like software, analytics, business applications, technology intelligence, technology enabling infrastructure, e-commerce, digital media, among others.
Technology industry’s indirect contribution is an enormous $92 billion. It is a very important part of the value chain and operations of several businesses, including agriculture, manufacturing, finance, etc. At this juncture, the experts predict the billion-dollar sector to motor along and generate more quality jobs for the skilled workforce.
The tech firms are known for creating direct and indirect opportunities for both tech and non-tech roles, which include sales, marketing, administration, human resources, to name a few. With new-age projects like Adani Group Australia’s Carmichael mine focusing on integration of technology, the need for the tech-players to offer holistic services has only increased.
The technology sector is the 7th largest employer in Australia, having witnessed 66 per cent increase in he jobs to an average growth of 35 per cent across the economy. Over the next 5 years, it is believed that the Australian tech sector can employ more than 1 million workers, making it a very crucial player for the overall economic development of the country.